Modernization

Russian President Vladimir Putin has signed the law establishing a sixth state corporation, Roscosmos, which is expected to improve the management of space systems and strengthen the country’s security.

The BRICS New Development Bank is designed as an alternative and a supplement to existing international “hard currency” financial institutions to help member states finance projects in local currencies, Vladimir Dmitriev, CEO of Vnesheconombank told RT.

United Airlines was writing boarding passes by hand before stopping all flights for three hours. Then the New York Stock Exchange halted all trades, citing a mysterious “technical glitch.” It wasn’t a cyberattack, US officials said – but what was it?

US weapons researchers are looking to develop missiles moving more than five times the speed of sound, with arms giant Raytheon getting the initial $20 million development contract. The first flight tests are expected within two to four years.

A St. Petersburg navy design bureau says it is ready to build a Russian-made alternative to the troubled Mistral carriers, which remain moored in France. The intended new ship dubbed Lavina (‘Avalanche’) promises to be bigger and faster than the Mistrals.

Obama administration officials proposed tougher fuel efficiency and emissions limits for trucks and buses, responsible for almost a quarter of carbon dioxide emissions on US roads. Compliance costs will be offset by better fuel economy, officials said.

McDonald’s will close 700 restaurants worldwide this year for the first time in four decades. Faced with declining sales and increased market competition, the company says it also intends to streamline management positions.